Enabling sustainable choices
At Nordea, we want to make a difference together with our customers by enabling them to make sustainable choices, contributing to society’s goals through climate action and social impact.
The next great shift
Society is facing the next great shift to sustainability. The world needs to build a new low carbon economy, with a just transition that creates jobs, and fosters diversity, inclusion and equal opportunities across society. Banks will play a vital role in this transition by channelling investments and financing companies, guiding them towards sustainable pathways and business models.
Nordea commits to inspire and enable our customers to make sustainable choices.
As a leading Nordic bank, we recognise that we have a key role in helping our customers and society to make the shift. With our long and solid experience within active ownership, sustainable investments and financing, we can accelerate our customers own transition through our support and offerings.
Sustainability is embedded across Nordea’s business strategy, backed by measurable targets, strong governance and one of the broadest sustainability offerings in the market.
We are committing to:
A net-zero emissions objective by 2050 at the latest
across our lending and investment portfolios and internal operations.
Reducing carbon emissions across our
investment and lending portfolios by 40-50% by 2030
Reducing carbon emissions in our
internal operations by more than 50% by 2030
and achieve a net positive carbon contribution.
Shipping portfolio to have
at least 25% lower emissions
than the global fleet by 2050.
In comparison with 2019's figures
Our 2023 targets
25% of gross inflow for savings in sustainable products.
Nordea Life Pension will reduce portfolio emission with 25% (2020-2024).
All savings advisory sessions contains the topic of a sustainable choice for our customers to invest in.
Increase in green and transitioning financing and be the leading provider of sustainability products for large corporates in our home markets.
Large corporate customers in carbon-intensive industries should increasingly have low-carbon transition plans that align with EU and local climate targets.
Grow share of EU Taxonomy aligned assets and income and meet disclosure requirements.
Total carbon reduction from internal operations 30% compared to 2019.
All relevant requests for proposal to our suppliers have requirements that are aligned with the Paris Agreement to achieve carbon reduction in supply chain.
Risk Management Framework for ESG risks in place.
Risk assessments for all climate risk vulnerable sectors and customers in place.
All investee companies in funds managed by NAM assessed against the minimum safeguards in the area of human rights (in line with the EU Taxonomy).
Human Rights Impact Assessment of the supply chain in place.
100% of new suppliers screened for sustainability issues.
Deliver new diversity and inclusion strategy, targets and a milestone plan by 2020
Governance and culture
Sustainable banking implemented as part of Nordea’s culture with sustainability targets integrated into people processes, including employee branding and benefit programmes.
Sustainability targets integrated into remuneration programmes (starting 2022)
Sustainable banking pillars
Our 2030 objectives focus on where we can have a material impact, based on 4 pillars of:
Financial Strength | Climate Action | Social Responsibility | Governance & Culture
Accelerating our impact
Nordea is collaborating within and beyond our industry to accelerate impact. We believe collaboration is the key to drive systemic change and achieve more sustainable societies.
During recent years, we have accelerated our ambition by taking ownership and a leading role in creating new global frameworks.
We are proud to be co-founders of the UNEP FI Principles for Responsible Banking and the Collective Commitment to Climate Action and founding members of the Net Zero Asset Owners Alliance, the Net Zero Asset Manager Alliance and other impact-driven investor collaborations.
We have also joined the Partnership for Carbon Accounting Financials (PCAF). These initiatives are corner stones in setting the direction for the financial sector and Nordea to be aligned with the
UN Sustainable Development Goals and the Paris Agreement.